Melbourne

New storage and distribution hub for Kumho Tyres

2013-11-05T06:00:00Z

12 year pre-lease deal struck for office/warehouse in Dandenong South

One of Australia’s most popular tyre brands, Kumho Tyres Australia, has pre-leased a state of the art office/warehouse in Dandenong South to be constructed by leading industrial developer Elite Property Group.

The 10,500sqm purpose built facility will have direct exposure to the South Gippsland Freeway and is located in the shadow of the Pound Road interchange. The convenient access to Melbourne’s arterial road network was particularly attractive to Kumho, who will establish a major tyre storage and distribution hub at the Carter Way address.

Jones Lang LaSalle Director of Industrial Services, Kosta Filinis negotiated the deal, working closely with both groups to fine tune the technical brief.

Mr Filinis said, “The 12 year lease term struck between the parties was a sign of the commitment from both sides to the project, in a result that enabled both tenant and landlord to achieve their requirements.”

“The deal is another outstanding result for the Dandenong South market, which continues to attract major corporations looking to be located in the South East corridor of Melbourne. The area is consistently drawing occupiers from competing markets such as Braeside, Scoreby and Rowville,” Mr Filinis added.

The development of the Kumho facility is another coup for Elite Property Group, who has enjoyed recent successes with buildings of a similar size for Otter Fencing and Nails, Ascent Pharmaceuticals and Mercury Marine.

Elite Property Group Managing Director, Leo Iazzolino, said, “The pre-lease with Kumho Tyres represents a significant development for our Group and we look forward to delivering the building and adding another facility secured by an industry leader to our portfolio.”